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European funds saw outflows of €119bn in 2011, says Morningstar

By: Jonathan Boyd | 26 Jan 2012

Equity funds saw outflows of nearly €70bn, and fixed income funds shed €44bn, according to Morningstar’s latest research into European fund flow data.

Overall net outflows hit €119bn for the year, including another €23bn in December alone, as investors fled all types of funds.

Morningstar blames this on the eurozone sovereign debt crisis, which it said caused investors to pull out of funds altogether rather than consider switching from equity to bond funds – as happened in the US market through 2011.